depositor:
(plural: ‘depositors‘; the opposite word in meaning: ‘depository’ → → next entry)
a person who deposits money or other valuables with another person, in a bank or other financial institution,
depositors at a bank counter
A depositor who deposits his/her money in a fixed deposit account with a bank gets more interest on his deposit, but he/she cannot withdraw large sums without notifying the bank authorities well in advance.
A depositor has every right to know about the past, present and future policies of the bank and to get a written guarantee from the bank; however, a depositor must be truthful and must submit genuine documents at the time of depositing the money with the bank.
The more depositors a bank has, the more business and profit a banks makes, and in turn, the bank pays more interest rates to its depositors.
